Anyone one on here in the health insurance business know what adverse financial strain it’s causing? Is there any danger any of the companies exhaust their reserves?
I’m surprised I haven’t heard more news about the health of the industry. With hundreds of thousands of patients spending multiple weeks in ICU, the insurers have to be spending enormous amounts of dollars. With the long delays in paying claims to hospitals, this may not have reared it’s ugly head yet. It wouldn’t surprise me if some may have to be bailed out.
My forty six years in insurance tells me that the carriers are just fine! Remember that elective procedures were halted, so there was not a major additional hit to the carriers. Now that elected procedures are allowed, some increase may be felt. All of that being said, fee schedules are in tact for Covid or other procedures. You also have reinsurance.
Thanks. I had not thought about the impact of the elective surgeries being halted. I own a couple of healthcare stocks and they have been doing much better than I expected. I thought about selling them a couple of months ago, but glad I didn’t.
Most of the Covid cost we be spread out across industry via the reinsurance contracts in place. The very purpose of reinsurance, no one company takes the bulk of the hit.
Better watch out the Mods might deem this inappropriate since it deals with Covid.
As long as politics stays out of it, I have no problem with the topic. But just so you know, someone did report it as inappropriate. I let it pass.
Hospitals were at low census for weeks. No elective procedures and people too scared to come to the ER. Placed a huge strain on hospitals, with furloughs of some staff, etc. I’m sure the insurance companies thrived, they always seem to.
NY EMT’s reported a 400% increase in people dying at home, Italy had at least a 50% increase in home deaths. Folks were too scared to come to ER’s with chest pain or strokes. Not reported by national media, since they are largely to blame.
I’m suspecting the problem is being felt at the large inner city and suburban area hospitals. Hospitalizing many folks for many days who have no or limited financial resources.
I was just picking I think the topic is fine too but I had one taken down today that eally had nothing to do with politics…I just posted what could be a very good reason for why we’re seeing a lot of deaths that really are not Covid. I thought it was a very useful information…I know at least one person thought it was very good information to be brought to the board. But whatever.
They don’t want any positive news about COVID anywhere. You have to keep the sheep in line. Any dissenting opinions will get you banned.
Not reported by national media…
I’m curious as to how you found this out.
In fairness it seems like the doomsayers have been a lot more correct about Covid-19 these past few months than the sunshine pumpers. It’s a terrible thing. Hopefully a vaccine will arrive early next year. Not optimistic it will that soon, however.
I don’t know what think anymore.
However, my guess is that college and high school age kids have a stronger chance of dying from heat related illnesses than from Covid. Also, their chances of pain and suffering through football related injuries are much greater than pain through Covid.
Maybe. But a high schooler with a broken collarbone or who has suffered a heat stroke doesn’t affect the health of mom and pop, or of grandma or grandpa. Just the opposite of he unknowingly has Covid-19.
You are exactly right, but they can catch Covid without being on the football field.
I read where the number of deaths have gone down (I corrected it from death rate) in 12 of the last 13 weeks in the US. It was flat in the one week. The death rate, I believe has gone down every week since mid-march.
Why is that not a good sign for the near future and the upcoming school semester?
Ooops, I corrected the first sentence.
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